Source of fund for Express entry

[PritomIslam]

Hello everyone, I am a new member here. Me and my husband are going to apply to express entry. He will be the Main applicant and I am the dependent. Now, I have some queries related source of fund-
1. my husband is the main applicant and I m dependent; what if my parents give me gift deed in my account in my name and I transfer it to my husband's account? will it be a problem?
2. if the whole $15,312 amount is shown as gift deed, should it be a problem ?
3, if the money from gift deed enters into bank account 3 months before creating the express entry profile, will it be enough?
Please Help me out!!!!!

 

[rupinder2k17]

Hello everyone, I am a new member here. Me and my husband are going to apply to express entry. He will be the Main applicant and I am the dependent. Now, I have some queries related source of fund-
1. my husband is the main applicant and I m dependent; what if my parents give me gift deed in my account in my name and I transfer it to my husband's account? will it be a problem?
2. if the whole $15,312 amount is shown as gift deed, should it be a problem ?
3, if the money from gift deed enters into bank account 3 months before creating the express entry profile, will it be enough?
Please Help me out!!!!!

1. It wont be a problem as long as your are providing the gift deed, affidavit, accounts statements reflecting the transaction. Also explain this in the letter of explanation as this would make the Visa Officer's job easier
2. I guess it wouldnt be as long as you are providing proofs that these are not borrowed funds and you dont have to return these to anybody.
3. That wouldnt be an issue.

Best of luck

 

[PritomIslam]

1. It wont be a problem as long as your are providing the gift deed, affidavit, accounts statements reflecting the transaction. Also explain this in the letter of explanation as this would make the Visa Officer's job easier
2. I guess it wouldnt be as long as you are providing proofs that these are not borrowed funds and you dont have to return these to anybody.
3. That wouldnt be an issue.

Best of luck

Thank you so much, its a sigh of relief!!! from where can I collect this gift deed, affidavit? and do i need to show my parent's bank statement also as they are giving me the gift? and also, what if the amount of money directly get transferred from my parent's account to my husband's account though the gift deed is mine?

 

[rupinder2k17]

Thank you so much, its a sigh of relief!!! from where can I collect this gift deed, affidavit? and do i need to show my parent's bank statement also as they are giving me the gift? and also, what if the amount of money directly get transferred from my parent's account to my husband's account though the gift deed is mine?

This gift deed and affidavits are available at any notary. They have the required formats.

Secondly, CIC asks for 6 months' bank statement because they want to ensure that money is yours to use and is not borrowed. If in those 6 months they see a sudden spike, which will be there in your case, they ask for proofs that the instant flow of money is not a loan or something. It has to be a gift. Thats why it is advisable to provide the complete trail of money till it reaches the primary applicant's account. In my case I have taken money from my dad, so what i did was i produced my balance certificate, my 6 month's account statement, a gift deed and an affidavit from my Dad and his bank statement highlighting the said transaction.

Lastly, if the money is being transferred from your account to your husband's, they the gift deed will be between you and your husband along with an affidavit from your side that yes i am gifting this money and dont want it back.

Hope it helps.

 

[PritomIslam]

This gift deed and affidavits are available at any notary. They have the required formats.

Secondly, CIC asks for 6 months' bank statement because they want to ensure that money is yours to use and is not borrowed. If in those 6 months they see a sudden spike, which will be there in your case, they ask for proofs that the instant flow of money is not a loan or something. It has to be a gift. Thats why it is advisable to provide the complete trail of money till it reaches the primary applicant's account. In my case I have taken money from my dad, so what i did was i produced my balance certificate, my 6 month's account statement, a gift deed and an affidavit from my Dad and his bank statement highlighting the said transaction.

Lastly, if the money is being transferred from your account to your husband's, they the gift deed will be between you and your husband along with an affidavit from your side that yes i am gifting this money and dont want it back.

Hope it helps.

well, 1. then there will be 2 gift deeds right?, one is from my mother to me who is a service holder and doing job for almost 12 years, and another gift deed is from me to my husband, note that- "I am not involved in any kind of job/business, I am a MBA student" right?
2. and also I will open a bank account tomorrow, because I didn't have any bank account before. my mom will deposit the money as a gift in my a/c within few weeks- I hope its ok.
3. did you show your full amount as gift? or partial?
TIA

 

[rupinder2k17]

well, 1. then there will be 2 gift deeds right?, one is from my mother to me who is a service holder and doing job for almost 12 years, and another gift deed is from me to my husband, note that- "I am not involved in any kind of job/business, I am a MBA student" right?
2. and also I will open a bank account tomorrow, because I didn't have any bank account before. my mom will deposit the money as a gift in my a/c within few weeks- I hope its ok.
3. did you show your full amount as gift? or partial?
TIA

1. There would only be one gift deed..from you to your husband..you need not show where that money came from. Only the primary applicant needs to do that
2. You need to have a bank account or you can mention in the gift deed that it was a cash transaction. But, bank to bank transaction would be preferable
3. Partially. some from my dad, some amount was already there in my account and some after selling my crop. Again i provided the proof of selling my crop because it was a large transaction, so had to provide proofs for that.

 

[Vidya sarath]

hello everyone, I am a new member here. Me and my spouse are planning to apply for immigration through express entry, me being the primary. We both are currently located in different geography(Myself - UAE & spouse - KSA).
I have a query on showing the source of fund.
1. What is the amount to be shown as per requirement ?
2. Do we need to show the amount particularly in my bank account or is it ok to submit my spouse bank account as proof of combined savings with any letter from my spouse?
3. My spouse account in India & KSA is used as savings & currently i don't have the sufficient funds in my individual account. If it has to be shown in my account , we need to plan accordingly